87 sats \ 7 replies \ @BitcoinIsTheFuture 25 Feb \ on: US ETFs have 3.75% of BTC supply. charts_and_numbers
Holders of ETF’s own 0.00000000 Bitcoin. Paper promises!
Lol some of them will find out the hard way and its going to be epic
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I agree. How can @02bcd3eeb0 try to compare a paper Bitcoin promise to Bitcoin in cold storage? We are not the same and every cycle people learn. I was an idiot and lost a lot of Bitcoin by staking paper Bitcoin. You’ve been warned. Not your keys not your cheese…
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Lol equally an idiot back in 17, having paper promises on an exchange that got rugged, had to learn the hard way and I see it as the cost of learning, although i'd much prefer to have that bitcoin back :)
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Ha yeah the cost of a Bitcoin education in sound money! Tuition costs suck :-)
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My point is that legal "ownership" of bitcoin is irrelevant in both cases. Courts can't reverse a bitcoin transaction even if the coins are "stolen". Having exclusive control of the keys is all that matters.
By that logic you can also say that no one owns any bitcoin, since a private key is just a number and it is not possible to "own" a number.